Slide 1: Elektroimportøren 2nd quarter presentation
Elektroimportøren 2nd quarter presentation August 16 2023 Andreas Niss CEO Jørgen Wist CFO
Slide 2: Summary of key financials Q2
Summary of key financials Q2 • Revenue of NOK 326 million (358) down 9% from last year • Total like-for-like sales have been reduced with 10.7%. • B2B sales decreased with 8.8% compared to last year while B2C sales decreased with 9.3%. • B2B share of total sales was 51% (50%). • Total sales of Spoto
Slide 3: Operational update
Operational update Tough market conditions and additional decline in sales of EV chargers Decline in sales of EV chargers represent NOK 26 million Gross margin percentage is being reduced mainly due to lower gross margin in Elbutik Cost control in sales channels continues to be good Further cost sav
Slide 4: Elbutik Scandinavia
Elbutik Scandinavia Q2 sales of NOK 30 million (32) Reported EBITDA NOK -5 million (2) Our store concept have been well received by both professional and consumer customers but visits are too low. We need to learn from the market and make adjustments before we open more stores. Increased sales and m
Slide 5: Namron share of business
Namron SOB for Q2 is at 31.6% (Norway) Sweden SOB 4.7% We do not see the effect of lower freight costs in Q2 but expect to do so in Q3 and onwards Work continues to increase SOB in Sweden and we see a much higher SOB in the physical store than online
Slide 6: Spoton total sales
Total sales in Q1 NOK 7 million (7) Exploring the opportunities to use the Spoton platform in other craftsman areas Launched solar in Q2
Slide 7: Spoton sales development
Fully digital ordering 14 11,7 12 Multiple choice of products 10 9,4 9 Fixed price for product and 8 7,4 7 6,5 6,1 installation 6 4 Confirmation of time and 4 2,6 1,6 appointment 2 0 Certified electricians Q1 Q1 Q2 Q2 Q2 Q3 Q3 Q4 Q4 Q1 2021 2022 2021 2022 2023 2021 2022 2021 2022 2023 As promised -
Slide 8: EV Chargers
EV Chargers Easee salesban in Sweden has led to a drastic decrease in sales also in Norway Range of EV chargers have been extended but it has not been possibe to fully replace the shortage in demand for Easee Shortage of supply from other suppliers Q2 sales 21 MNOk -55% Easee sales in the quarter -9
Slide 9: Solar
Solar Total orders of NOK 10 million Sales for the quarter are lower than expected but a major part of sales will be delivered in Q3 Launch of Solar on Spoton to compete in the consumer space Learnings have been made in distribution, marketing and sales and we are optimistic on sales going forward
Slide 10: Revenues
Revenues Revenue bridge Q2 2022 to Q2 2023 Sales LFL Online New Elbutik Other Sales Q2 stores Norway stores Q2 2022 Norway Norway 2023
Slide 11: Gross margin
Gross margin Gross margin (%) 37,3 % 37,6 % 37,3 % 37,3 % 35,7 % 35,1 % 34,6 % Q1 Q2 Q3 Q4 Full year 2022 2023
Slide 12: OPEX
OPEX Opex bridge Q2 2022 to Q2 2023 Opex LFL New Elbutik Opex Q2 stores stores Q2 2022 Norway Norway 2023
Slide 13: EBITDA
EBITDA EBITDA bridge Q2 2022 to Q2 2023 EBITDA LFL Online Norway New Elbutik EBITDA Q2 stores stores Q2 2022 Norway Norway 2023
Slide 14: Events after the period and outlook
Events after the period and outlook We expect the challenges in the market to continue going forward. We do believe that consumers will search for cost efficient ways to upgrade their homes and that our concept stands strong in that aspect. Sales of solar and energy saving products are increasing an
Slide 15: Q&A
Q&A == Elektroimportoren